Core Insights - The Hong Kong Monetary Authority (HKMA) announced the "FinTech 2030" initiative, focusing on four key areas and over 40 specific projects aimed at enhancing the financial technology landscape in Hong Kong [1][2] Group 1: Data and Payment Infrastructure - HKMA plans to develop a robust and future-oriented infrastructure to support secure, efficient, and scalable data sharing, enhancing cross-border payment connectivity [1] - The initiative aims to create new opportunities for businesses, such as expanding credit channels and promoting trade financing, while providing citizens with personalized financial services and convenient cross-border remittances [1] Group 2: Artificial Intelligence Application - HKMA will introduce a new AI² strategy to promote the comprehensive and responsible application of artificial intelligence in the financial sector [1] - The authority aims to collaborate with the industry to build a shareable and scalable AI infrastructure and specialized financial models, enhancing the accessibility, convenience, and personalization of banking services while maintaining transparency and accountability [1] Group 3: Resilience and Quantum Computing - HKMA will implement measures to strengthen business and technological resilience, including a new certification framework for fintech cybersecurity and a real-time analysis-based early warning system [2] - The authority is preparing the financial sector for post-quantum cryptography (PQC) and will develop quantum-resistant infrastructure to ensure the security of financial services [2] Group 4: Tokenization Promotion - HKMA aims to advance the tokenization ecosystem in Hong Kong by promoting the tokenization of real-world assets, including financial assets [2] - The authority will lead by example, making the issuance of tokenized government bonds a regular practice and exploring the feasibility of tokenizing foreign exchange fund notes and bonds [2] - The settlement of these assets on the blockchain will be facilitated through new digital currencies, including the digital Hong Kong dollar, tokenized deposits, and regulated stablecoins [2]

责任编辑：杨喜亭 会议要求，联席会议有效发挥综合协调平台作用，加强部署推动，扎实推进各项重点任务落实落 地。各相关行业主管、监管部门深入落实"管合法更要管非法""管行业必须管风险"要求，加强条线指 导。各级地方党委和政府切实做到"守土有责、守土负责、守土尽责"，对大要案件重拳出击、震慑犯 罪，对风险苗头强化打早打小，从源头上筑牢风险防范堤坝。 会议指出，各地各部门要坚定信心、再接再厉、重点突破，慎终如始抓好打击非法集资专项行动， 查漏补缺落细落实行动方案，把握力度节奏稳妥"拆弹排雷"，举一反三健全长效机制，确保取得预期成 效。 防范和打击非法金融活动部际联席会议日前在京召开严厉打击利用APP开展非法金融活动专题会 议。联席会议召集人、金融监管总局党委书记、局长李云泽出席会议并讲话。中央网信办、工业和信息 化部、公安部、商务部、中国人民银行、市场监管总局等联席会议成员单位有关负责同志部署相关工 作，江苏省、福建省、重庆市有关负责同志作交流发言。金融监管总局党委委员、副局长周亮主持会 议。 会议强调，各地各有关部门要深入学习贯彻党的二十届四中全会精神，认真落实党中央、国务院关 于防范和打击非法金融活动决策部署，充 ...

Core Viewpoint - The financial law forum emphasizes the importance of legal frameworks in promoting financial development, innovation, and transformation, highlighting the need for a robust financial legal system to support the construction of a financial power and modern governance capabilities [1][4]. Group 1: Financial Legal System Development - The establishment of a sound financial legal system is crucial for building a financial power and modernizing financial governance [4]. - Legislative tasks in the financial sector are significant, with goals set by the 20th National Congress to formulate financial laws, including the Financial Stability Law and amendments to existing banking laws [4][5]. Group 2: Risk Prevention and Legal Framework - Preventing and mitigating financial risks, particularly avoiding systemic financial risks, is a core function of financial law [6]. - The Supreme People's Court has been guiding lower courts in major risk management, providing legal frameworks to address risks in areas like internet finance and real estate [6][7]. Group 3: Cross-Border Financial Challenges - The forum discussed the legal challenges and responses in cross-border finance, with a focus on the increasing complexity of international capital flows [11][14]. - The Beijing Financial Court highlighted the prevalence of securities fraud and disputes related to financial loans and investment contracts, reflecting the diverse legal needs arising from international cooperation [14]. Group 4: Regulatory Developments in Hong Kong - Hong Kong is adapting its regulatory framework to address new challenges, such as the implementation of a licensing system for virtual asset trading platforms to protect investors [8]. Group 5: Collaborative Outcomes - The Beijing Financial Court and industry associations released two reports focusing on judicial support for the high-quality development of the capital market and investor protection practices [18][19]. - These reports aim to address industry challenges, particularly concerning the management of private investment funds and the legal implications of fund manager failures [19].

Core Viewpoint - The Chinese government is intensifying efforts to combat illegal financial activities conducted through mobile applications, emphasizing the importance of safeguarding citizens' financial interests [1][2]. Group 1 - A recent inter-ministerial meeting was held in Beijing to address the crackdown on illegal financial activities via apps, with participation from various regulatory bodies [1]. - The meeting highlighted the urgency of recognizing the current situation and the need for decisive actions to address illegal financial activities [1][2]. - Authorities are instructed to adopt a proactive approach in identifying and mitigating risks associated with illegal fundraising activities [2]. Group 2 - The meeting called for a comprehensive coordination platform to ensure the effective implementation of key tasks related to combating illegal financial activities [2]. - Local governments are urged to take responsibility and act decisively against major cases to deter criminal activities [2]. - A focus on continuous improvement of mechanisms to prevent risks and ensure the effectiveness of actions taken against illegal fundraising is emphasized [2].

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has announced the abolition of two regulatory documents related to the reporting of foreign exchange assets and liabilities by Chinese financial institutions, aiming to optimize the statistical framework for external assets and liabilities [1] Group 1: Regulatory Changes - SAFE has decided to abolish the following two normative documents: 1. "Notice on Reporting Foreign Exchange Assets and Liabilities by Chinese Financial Institutions" (Hui Fa [2009] No. 6) 2. "Notice on Adjusting the Reporting Methods for Foreign Exchange Assets and Liabilities by Chinese Financial Institutions" (Hui Zong Fa [2012] No. 136) [1] - The announcement will take effect immediately upon publication [1]

庭审中，公诉机关出示了相关证据，被告人孙建宁及其辩护人进行了质证，控辩双方在法庭的主持下充 分发表了意见，孙建宁进行了最后陈述并当庭表示认罪、悔罪。 庭审最后，法庭宣布休庭，择期宣判。 北京商报讯（记者 李秀梅）10月30日，北京商报记者注意到，10月29日，山东省日照市中级人民法院 一审公开开庭审理了原山东银保监局一级巡视员孙建宁受贿一案。 2020年1月，被告人孙建宁利用担任中国人民银行银川中心支行副行长、中国保险监督管理委员会宁夏 监管局党委书记、局长，中国保险监督管理委员会新疆监管局党委书记、局长，中国保险监督管理委员 会山东监管局党委书记、局长等职务上的便利，为有关单位和个人在销售产品、贷款融资、企业经营等 方面谋取利益，非法收受上述单位和个人所送财物，价值共计人民币1348万余元。公诉机关提请以受贿 罪追究孙建宁刑事责任。 ...

Core Viewpoint - The "15th Five-Year Plan" emphasizes accelerating the construction of a financial powerhouse, building upon the framework established in the Central Financial Work Conference at the end of 2023, with a focus on various financial systems and regulatory measures [1][3]. Group 1: Monetary Policy System - The "15th Five-Year Plan" suggests the establishment of a scientific and robust monetary policy system, enhancing the transmission mechanism of monetary policy to support stable economic growth and high-quality development [3][5]. - The People's Bank of China aims to balance short-term and long-term goals, support real economic growth while maintaining the health of the financial sector, and dynamically improve the monetary policy framework [5][8]. Group 2: Financial Regulation - The plan calls for comprehensive strengthening of financial regulation, enhancing collaboration between central and local regulators, and developing a risk prevention and resolution system to ensure financial stability [5][6]. - The China Securities Regulatory Commission emphasizes the importance of risk prevention and enhancing the ability to monitor risks across markets and industries [6]. Group 3: Macro-Prudential Management - The "15th Five-Year Plan" proposes the construction of a comprehensive macro-prudential management system, focusing on the interconnections between macroeconomic operations and financial risks [8][10]. - The central bank will prioritize monitoring systemic financial risks, improving risk prevention measures for key institutions, and enhancing the governance mechanism for macro-prudential management [10]. Group 4: Internationalization of the Renminbi - The plan promotes the internationalization of the Renminbi, enhancing the openness of capital accounts, and establishing a self-controlled cross-border payment system for the Renminbi [6][10]. - The State Administration of Foreign Exchange aims to steadily expand high-level institutional openness in the foreign exchange sector while supporting trade innovation and investment cooperation [6].

Core Insights - The "Financial Risk Prevention and Collaborative Governance in the Era of Digital Intelligence" parallel forum was held in Beijing as part of the 2025 Financial Street Forum annual meeting, gathering guests from various sectors including finance, law, technology, and education [1][3]. Group 1: Government Initiatives - The Vice Mayor of Beijing, Sun Shuo, emphasized the importance of the financial industry as a key pillar of Beijing's economy and outlined four key strategies for enhancing financial risk prevention: strengthening regulatory collaboration, legal protection, technological empowerment, and open cooperation [3][4]. - Sun Shuo proposed three work suggestions for building a collaborative governance system in the digital intelligence era: leading with the rule of law, embracing technology, and promoting open and inclusive cooperation [3]. Group 2: Judicial Perspectives - The Chief Prosecutor of Beijing, Zhu Yafeng, highlighted the integration of financial prosecution branding with the implementation of a digital prosecution strategy to enhance the effectiveness of financial prosecution [4][5]. - The Deputy Chief Prosecutor of the Supreme People's Procuratorate, Ge Xiaoyan, noted the importance of high-quality prosecution services in safeguarding financial security in the digital intelligence era [4][5]. Group 3: International Cooperation - Leaders from judicial authorities in Vietnam, Italy, and Singapore discussed the challenges and strategies for preventing financial risks in the digital intelligence era during the forum [5]. - The Deputy Chief Prosecutor of Vietnam's Supreme People's Procuratorate focused on the theme of combating financial crimes and international cooperation [5]. Group 4: Research and Development - A joint initiative to combat financial black and gray industries was released by the Beijing People's Procuratorate, Beijing Financial Regulatory Bureau, and China University of Political Science and Law [7]. - The Beijing People's Procuratorate also published the "Financial Prosecution White Paper (2024-2025)" and showcased typical cases of high-quality prosecution in financial matters [7].

Core Viewpoint - The "Joint Initiative" aims to combat financial black and gray industries by promoting collaborative governance, enhancing information sharing, and establishing a comprehensive prevention system to mitigate systemic financial risks [1][2]. Group 1: Challenges in Governance - Financial black and gray industries face multi-dimensional challenges, including the need for improved collaborative mechanisms and information sharing, as well as the difficulty in identifying and controlling hidden risks [2][3]. - Legal standards for financial black and gray industries are ambiguous, leading to inconsistent judicial standards and complicating governance efforts [2]. - The lack of sufficient punitive measures results in an imbalance between the costs and benefits of illegal activities, making effective deterrence difficult [2][3]. Group 2: Proposed Measures - The initiative emphasizes the importance of collaborative information sharing to enhance risk prevention and response capabilities across the entire process [2][3]. - It calls for the establishment of a robust risk monitoring mechanism, requiring financial institutions to report high-risk information proactively [3]. - The initiative seeks to standardize consumer rights protection and ensure quick resolution of legitimate complaints while preventing malicious claims [3]. Group 3: Responsibilities and Education - Platforms are urged to take responsibility for verifying the qualifications of their participants and managing risk events effectively to prevent the spread of black and gray industries [3]. - The initiative promotes the establishment of regular interactions among regulatory bodies, legal institutions, and academic organizations to enhance legal research and application [3]. - Public education campaigns are to be conducted to improve financial literacy and awareness, thereby reducing the space for black and gray industries to thrive [4].

Core Viewpoint - Financial empowerment is identified as a key variable in promoting urban renewal and activating urban development dynamics, with the Chongqing Financial Regulatory Bureau collaborating with various local authorities to enhance financial support for urban renewal initiatives [1][2]. Group 1: Financial Support Mechanisms - The establishment of a dedicated financial working group for urban renewal aims to enhance the coordination between government, financial institutions, and enterprises, transitioning from a reactive to a proactive approach in urban planning [2]. - The introduction of specialized financial products, such as urban renewal loans, is intended to create a comprehensive financial product system that supports sustainable development [2]. - Financial institutions are encouraged to balance development and safety, exploring mechanisms to alleviate project financing bottlenecks and fostering a supportive lending environment [2]. Group 2: Key Focus Areas for Financial Services - The first focus area is spatial reshaping, which involves visible updates to urban areas, such as the renovation of old neighborhoods and public spaces, leveraging policy financial tools to attract more social capital [5]. - The second focus area is functional optimization, which aims to enhance public facilities and promote smart urban systems, ensuring efficient and convenient urban living [5]. - The third focus area is industrial enhancement, directing financial resources towards upgrading industries and transforming underutilized spaces into new economic drivers [5]. - The fourth focus area is ecological restoration, focusing on green and low-carbon projects, utilizing green finance tools to support sustainable urban development [5].